Corient Private Wealth LLC Reduces Position in iShares Gold Trust $IAU

Corient Private Wealth LLC trimmed its position in iShares Gold Trust (NYSEARCA:IAU) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 679,862 shares of the exchange traded fund’s stock after selling 32,175 shares during the period. Corient Private Wealth LLC’s holdings in iShares Gold Trust were worth $55,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Union Savings Bank acquired a new position in shares of iShares Gold Trust in the fourth quarter valued at about $171,000. Hsbc Holdings PLC raised its stake in shares of iShares Gold Trust by 51.0% in the fourth quarter. Hsbc Holdings PLC now owns 646,402 shares of the exchange traded fund’s stock worth $52,467,000 after purchasing an additional 218,339 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of iShares Gold Trust during the fourth quarter worth about $5,155,000. Compass Financial Group Inc. Ohio acquired a new stake in shares of iShares Gold Trust during the fourth quarter worth about $618,000. Finally, Pure Financial Advisors LLC lifted its holdings in shares of iShares Gold Trust by 26.4% during the fourth quarter. Pure Financial Advisors LLC now owns 4,742 shares of the exchange traded fund’s stock worth $385,000 after purchasing an additional 991 shares during the period. Hedge funds and other institutional investors own 59.67% of the company’s stock.

More iShares Gold Trust News

Here are the key news stories impacting iShares Gold Trust this week:

• Negative Sentiment: Gold prices weakened after the Fed signaled a higher-for-longer rate stance, with some traders now pricing in the possibility of at least one rate hike later this year. Hawkish Fed keeps pressure on gold as physical premiums soften – Kitco PM Report
• Negative Sentiment: Multiple market outlooks point to gold testing key support levels, with analysts warning the metal could retest the $4,000 area if bearish momentum continues. Gold (XAU/USD) Price Forecast: Support Test Could Shape Next Major Move
• Negative Sentiment: Stronger U.S. labor and manufacturing data, along with a firmer dollar, added to the pressure on precious metals and reinforced the shift away from defensive gold positioning. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June

iShares Gold Trust Price Performance

Shares of NYSEARCA IAU opened at $79.33 on Friday. iShares Gold Trust has a 52 week low of $61.37 and a 52 week high of $104.40. The business’s 50 day moving average price is $85.56 and its 200 day moving average price is $87.67. The firm has a market cap of $67.54 billion, a P/E ratio of 5.53 and a beta of 0.15.

iShares Gold Trust Company Profile

iShares Gold Trust (the Trust) is to own gold transferred to the Trust in exchange for shares issued by the Trust (Shares). Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist of gold held by the Trust’s custodian on behalf of the Trust. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the Sponsor), which is an indirect subsidiary of BlackRock, Inc The trustee of the Trust is The Bank of New York Mellon (the Trustee) and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the Custodian).